Oppenheimer & Co. Inc. Takes $229,000 Position in Brookfield Renewable Partners L.P. (NYSE:BEP)

Oppenheimer & Co. Inc. acquired a new stake in Brookfield Renewable Partners L.P. (NYSE:BEPGet Rating) (TSE:BEP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,586 shares of the utilities provider’s stock, valued at approximately $229,000.

Several other large investors have also modified their holdings of the company. Bank of Nova Scotia boosted its holdings in shares of Brookfield Renewable Partners by 55.9% in the second quarter. Bank of Nova Scotia now owns 409,385 shares of the utilities provider’s stock valued at $14,226,000 after acquiring an additional 146,843 shares during the period. Curi Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth approximately $33,000. Keybank National Association OH raised its stake in shares of Brookfield Renewable Partners by 2.7% during the second quarter. Keybank National Association OH now owns 15,647 shares of the utilities provider’s stock worth $545,000 after purchasing an additional 410 shares during the last quarter. Community Capital Management LLC raised its stake in shares of Brookfield Renewable Partners by 81.8% during the second quarter. Community Capital Management LLC now owns 20,000 shares of the utilities provider’s stock worth $696,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the second quarter worth approximately $221,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on BEP shares. Mizuho cut their price objective on Brookfield Renewable Partners from $38.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 30th. TD Securities started coverage on Brookfield Renewable Partners in a research report on Tuesday, October 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their price objective on Brookfield Renewable Partners from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. StockNews.com assumed coverage on Brookfield Renewable Partners in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company lowered their target price on Brookfield Renewable Partners from $38.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.27.

Brookfield Renewable Partners Stock Down 1.7 %

Shares of NYSE:BEP opened at $28.84 on Friday. The stock’s 50-day moving average price is $31.34 and its two-hundred day moving average price is $34.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.03. Brookfield Renewable Partners L.P. has a 12-month low of $27.32 and a 12-month high of $41.95. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of -51.50 and a beta of 0.71.

Brookfield Renewable Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be issued a $0.32 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.44%. Brookfield Renewable Partners’s dividend payout ratio (DPR) is -228.57%.

About Brookfield Renewable Partners

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Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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Institutional Ownership by Quarter for Brookfield Renewable Partners (NYSE:BEP)

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